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I withdrew an excess deferral into 401K before April 15th, and entered the withdrawal under retirement income. Does Turbotax know not to calculate tax liability twice?

I contributed an excess of $595.50 into my 401K in 2018 (2 employers). After discovering the error, I withdrew $596 from the second employer's 401K. 

I do not have a 1099-R but I entered the withdrawal under retirement income as if I had a 1099-R.

2 problems: TurboTax is flagging the excess contribution and marks it as an error, preventing filing; and how do I know I am not being taxed twice (once for the excess deferral and once for the new $596 withdrawal I have entered)?

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1 Reply
DawnC0
Intuit Alumni

I withdrew an excess deferral into 401K before April 15th, and entered the withdrawal under retirement income. Does Turbotax know not to calculate tax liability twice?

Unfortunately,  customers who had excess 401(k) contributions withheld will need to paper-file, even after taking the corrective steps.  See the corrective steps to take below to ensure you are not being double taxed.  https://ttlc.intuit.com/replies/7327357

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